Westfield will move HQ to ‘live above the store’

Shopping centre leader
Westfield Group
will move its global headquarters over the shop – into two towers above its new Sydney City flagship.

In a memo to staff, chairman
Frank Lowy
said the location above a “truly iconic shopping centre" would send a “powerful message".

“We really like the idea of living above the store," he wrote.

“We believe that Sydney City is going to be one of the world’s truly iconic shopping centres and by marrying our headquarters to it we will send a strong message about the business we are in and what Westfield stand for.’’

The move, mid next year, will also provide more effective space, with bigger floorplates and better technology than the current William Street headquarters.

Westfield is building or refubishing three office towers as part of the $1.9 billion Sydney City project.

The group will take 12,000 square metres in two of the three towers, all of which are linked above the centre by a sky lobby. Westfield will share the 100 Market Street tower with the Australian Securities and Investments Commission and the 85 Castlereagh Street tower with JP Morgan’s Australian headquarters.

Westfield’s decision will ensure that 85 per cent of the 75,000 sq m of office space in the new precinct is now committed.